Maryland Code, Economic Development § 10-221

(a)(1) The Authority may secure a bond by a trust agreement between the Authority and a corporate trustee.

(2) A corporate trustee may be any trust company or bank that has the powers of a trust company in or outside the State.

(1) provide for the protection and enforcement of rights and remedies of bondholders, including covenants setting forth the duties of the Authority in relation to:

(2) provide for the rights and remedies of bondholders and of the trustee;

(3) restrict the individual right of action by bondholders as is customary in trust agreements securing bonds of corporations;

(4) provide for the deposit of the proceeds of the sale of bonds and the revenue of a development or project with an officer, board, or depositary that the Authority designates as custodian; and

(5) provide for the method of disbursing the proceeds and revenues with safeguards and restrictions that the Authority determines.

(c)(1) Except as provided in paragraph (2) of this subsection and § 10-222 of this subtitle, a trust agreement may pledge or assign revenues to be received from the development or project.

(2) No portion of a development or project may be conveyed or mortgaged without the express consent of the Board of Public Works.